UniverseMarketsFX is an MT4-based Forex and CFD brokerage, which apparently maintains a sort of digital (binary) options branch too, hosted by a different website and backed by a slightly different corporate entity. The fact that the universemarketsfx.com domain has only been created in August 2017, does not help much on the credibility front, but it does explain why there are almost no reviews available on the brokerage, nor any proper user feedback. The binary options-focused part of UniversemarketsFX is hosted at universemarkets, which is also a fairly new domain, created just one month before the above mentioned one.
The companies behind the two websites/brokerages also differ a little. The one associated with universemarketsfx.com is called Square Trading Limited and it is a UK-based operator, registered under #NI648699. The company mentioned in the footer of universemarkets.com is called White Square Trading Limited. Both corporate entities are based at 131-151 Great Titchfield Street, London, W1W 5BB UK. For customer support, they provide different phone numbers though.
In light of the above, it is indeed safe to assume that universemarketsfx.com and universemarkets.com belong to the same owner, and they are essentially the offshoots of the same root operator.
What exactly does universemarketsfx.com offer though?…or: why should traders consider trading there?
For starters, the brokerage uses the MT4 trading platform, which is pretty much the best the industry currently has to offer in this regard. It also allegedly features advanced pricing and trade execution, and it peddles a wide and diverse range of investment products, covering Forex, Shares, Indices, Commodities, Cryptocurrencies and CFDs. MT4 provides a superb range of trading tools, such as advanced technical analysis indicators and charting options. Transactions are said to be protected by top-notch security and deposits and withdrawals are purported to be extremely fast. There’s educational material provided, and the support staff is responsive.
The operator also boasts “close partnerships” with some of the top financial news feed providers, and user funds are said to be used only for the purposes laid out in the Terms and Conditions section of the site (namely for FX and derivatives trading, by their rightful owners) and nothing else.
While the broker observes strict KYC and AML policies, and while it does feature a proper Risk Disclosure Statement too, its website provides no information regarding any sort of regulation/licensing. What this essentially means is that we will have to assume the activity of this brokerage is not regulated in any way, shape or form, and there is no financial authority out there which oversees the business. This is a major problem indeed. In fact, this shortcoming alone is enough to blacklist the operation with most reviewers out there, and we are no exception.
UniverseMarketsFX Trading Products
The trading instruments section of the universemarketsfx.com website is a little confusing: it lists Shares, commodities and CFDs separately, but it turns out that all these categories are in fact CFDs, using different underlying assets.
Shares are essentially shares-based CFDs. They feature a maximum leverage of 1:100 – which is not exactly impressive.
Forex is where the best trading conditions are, and even these aren’t particularly attractive. We’re looking at minimum fixed spreads of 2 pips on major currency pairs, and more on the exotics. The maximum leverage on FX is 1:300 though, so it is indeed a tad better than on the Shares CFDs.
As one would expect, crytos come with by far the least attractive trading conditions. The maximum leverage on this asset-class is just 1:5. The cryptocurrency section plays host to assets like Bitcoin, Litecoin, Dash, and scores more.
On major indices, spreads start from just 1 pip. The maximum leverage one can use on indices is 1:150. For commodities, the maximum on leverage goes to 1:200, while on CFDs, it runs a range from 1:50 all the way to 1:300.
UniverseMarketsFX Trading Platform
As already said, the single platform used by UniverseMarketsFX is MT4, and it does indeed cover all the needs their traders could possibly have. Besides the above mentioned analytic and charting tools, UniverseMarketsFX’s MT4 offers on-chart trading, instant trade execution, market- and pending orders, trading history and stop orders.
While EAs are indeed among MT4’s better-known features, there is no mention of them at the UniverseMarketsFX website, nor is there anything said about the VPS service which usually accompanies the EA offer. It is therefore safe to assume that these advanced auto-trading features are not available at the brokerage – at least for the time being.
Stop Losses and Take Profits on the other hand are available, and they are advertised as risk management tools, a mold which does indeed fit them. MT4 can be downloaded for free at the UniverseMarketsFX website, and it comes with a selection of preinstalled technical indicators, to which users can always add more.
Should I Trust UniverseMarketsFX?
At this point, that’s difficult to tell. Unless the brokerage manages to get its regulatory status straightened out, for the time being, we’ll have to make that a “no.”
Red Flags and Question Marks
The tender age of the operation is definitely something that urges caution, though it should probably not be called a red flag. The regulatory status on the other hand is definitely a major problem, one that voids the point of even looking at further red flags and possible question marks.
Given that the FX/CFD side of the business has only been online for about 4 months, the fact that there are no complaints available about it online is not exactly surprising, nor does it carry any sort of significance.
UniverseMarketsFX Review Conclusion
UniverseMarketsFX is not regulated. The discussion (and this UniverseMarketsFX review) should normally stop right there. There are other things too about the whole setup of the brokerage which make it seem not 100% right, but the fact that the entire outfit was just launched a handful of months ago, really begs for the benefit of the doubt here.
Also, the fact that UniverseMarketsFX is associated with a binary option brokerage is not a mark in the “plus” column either.